The following is a summary of the Fluor Corporation (FLR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Fluor reported Q1 revenues of $3.7 billion, with new awards for the first quarter recorded at $7 billion, led by advancements in the life sciences and technology business line.

• The company reported a book-to-burn ratio of 1.9 and a backlog of $32.7 billion.

• Total profits from Urban Solutions was $50 million, a significant rise from last year, with new awards reaching $4.9 billion.

• Profits from the Energy Solutions segment decreased from last year due to cost growth on a subcontract in Mexico.

• Profits of the Mission Solutions rose from $7 million a year ago to $22 million.

• Anticipating that the net interest income run rate for the rest of 2024 will remain in the current range, with a revenue growth of approximately 15%.

Business Progress:

• Significant progress has been made in their Fluor Nordic strategy and the company is focusing on projects in life sciences, semiconductors, data centers, energy transition, and mining.

• The company is in discussion to monetize NuScale shares held by Fluor.

• Fluor has won major contracts such as the FEMA and Hanford Tank's contracts and has submitted proposals for projects like PANTEX.

• The company is hiring approximately 5,000 people per annum to meet the rising demand for its services.

• Fluor has a projected backlog worth $35 billion over the next four quarters with expectation of high margin and more reimbursable projects.

• Fluor is anticipated to grow in areas such as Urban Solutions and Energy Solutions due to valuable contract agreements and extension awards.

More details: Fluor IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.